Gold prices inched lower in Asian trading on Wednesday after hitting an all-time high in the previous session, as traders awaited specific details on U.S. President Donald Trump's April 2 tariffs.
XAU/USD inched 0.3% lower to $3,116.24 per ounce by 00:57 ET (04:57 GMT), after rising by 0.4% in early Asian trading.
It reached a record high of $3149.03 on Tuesday.
Gold Futures expiring in June were largely unchanged at $3,146.06 an ounce.
The yellow metal had hit consecutive fresh record-highs in the last four sessions, but traders were cautious on the day of Trump tariffs, leading to increased volatility on Wednesday.
President Trump is poised to implement extensive reciprocal tariffs on April 2, targeting a broad spectrum of trading partners to bolster U.S. manufacturing and address perceived unfair trade practices.
This initiative, termed "Liberation Day," is scheduled for 15:00 ET (19:00 GMT) on April 2, with the measures taking effect immediately thereafter.
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